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Fat Zebra bolsters CDR capabilties with acquisition of Aussie open data platform Adatree | Fintech InShorts: Latest fintech news, analysis by experts

Fat Zebra bolsters CDR capabilties with acquisition of Aussie open data platform Adatree

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Fat Zebra bolsters CDR capabilties with acquisition of Aussie open data platform Adatree

February 19, 2024

Australian payments processor Fat Zebra has acquired Sydney-based Adatree, a platform for the Australian Consumer Data Right (CDR).
Adatree’s platform allows companies in various sectors to access and leverage open data, and it is accredited as a data recipient by the Australian Competition and Consumer Commission (ACCC).
The acquisition aims to combine Fat Zebra’s payments platform, serving 30,000 merchants with 250 million e-commerce transactions annually, with Adatree’s CDR-compliant open data capabilities.
Fat Zebra’s CEO, Pred Dragila, sees open data and open payments as the future of the financial landscape, and the acquisition positions the company to drive smarter, data-driven payments in Australia.
The acquisition was completed in December, with the entire Adatree workforce joining Fat Zebra. Financial details of the deal have not been disclosed.
The move anticipates the development of CDR’s Action Initiation, enabling businesses to move beyond read-only data access to write access data, allowing services like payment initiation and account openings through API interfaces.

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